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(1 point) Mr. Weber purchases a $4000 bond, that pays interest at j4 = 11.5% and is redeemable at 98 in 12 years. He bought
(1 point) Mr. Weber purchases a $4000 bond, that pays interest at j4 = 11.5% and is redeemable at 98 in 12 years. He bought the bond at a price to yield 24 = 8.25% if held until maturity. After 4 years, he sells the bond to another investor who will yield j4 = 6.65% if held until maturity. Approximate Mr. Weber's yield on his investment over the 4-year period, using method of averages? Answer: %
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